Sonoco recently announced price increases of 4.2 percent on fabricated packaging assemblies containing EPS and/or PE and corrugated materials, 3.7 percent on all EPS parts and components, and 15 percent on corrugate packaging.
The increases will be effective January 1, 2014.
"Since Sonoco's acquisition of Tegrant, we have worked hard to provide price stability to our customers. To this end, we have been successful in maintaining stable pricing for more than a year," said Greg Powell , vice president, Consumer Protective Solutions.
"Our procurement and productivity initiatives have helped mitigate or otherwise reduce the impact of increases in resin costs, corrugated (linerboard) and energy. However, a portion of these costs have become unavoidable and are now part of our ongoing cost structure. As a result, we are faced with the need to adjust 2014 prices to reflect these higher input costs."
